Millicom International Cellular (NASDAQ:TIGO) Sets New 12-Month High – Should You Buy?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) reached a new 52-week high on Thursday . The company traded as high as $96.05 and last traded at $95.4510, with a volume of 262809 shares traded. The stock had previously closed at $94.08.

Wall Street Analysts Forecast Growth

TIGO has been the subject of several analyst reports. UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Finally, Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.28.

Millicom International Cellular Stock Up 2.7%

The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 13.17 and a beta of 0.92. The firm’s 50 day simple moving average is $86.82 and its 200-day simple moving average is $74.63.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. As a group, sell-side analysts anticipate that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

Insider Activity

In other news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the transaction, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 50,140 shares of company stock worth $4,425,461 in the last 90 days. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its stake in Millicom International Cellular by 896.7% in the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after purchasing an additional 269 shares during the period. Allworth Financial LP boosted its stake in shares of Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after buying an additional 418 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of Millicom International Cellular during the fourth quarter worth about $26,000. Blue Trust Inc. grew its holdings in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after buying an additional 427 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in Millicom International Cellular in the 4th quarter valued at about $29,000.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg?headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high?speed internet access and pay?television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi?regional operator focused primarily on Central and South America.